Amana ordered to pay SAR 12 mln for violations

23/02/2017 Argaam

Amana Cooperative Insurance Co. has been ordered by Saudi Arabia's Council of Cooperative Health Insurance (CCHI) to pay SAR 12.4 million for violations in policy issuance and regulations, the company said in a statement to Tadawul on Thursday.

 

The decision may be appealed within 60 days, according to the regulator.

 

Amana added that it expects the decision to negatively impact its 2017 financial statements.

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